Individual Fiscal Representation
When you purchase a property in Portugal your status as resident or non-resident is also registered on the deeds of purchase. Whilst it is no longer a legal requirement to EU nationals to appoint a fiscal representative in Portugal, if you intend to purchase a property or hold assets in Portugal we recommend that you appoint a fiscal representative.
All tax notifications usually require a quick reply and are always written in Portuguese. We strongly recommend that all property owners, including EU residents, appoint a fiscal representative to ensure that they receive any individual or property taxes on time and that these are actioned within the specified timescale.
As your fiscal representative we are legally responsible to receive your rates, property tax bills, changes in fiscal assessments etc., and ensure that you are aware of them.
We make sure your tax payments are made within the designated time limit, as if these bills are not paid your property could be at risk. The tax department will enter into correspondence with the designated fiscal representative in Portuguese only, and by appointing us this this ensures all correspondence is understood and that you are informed as required.
In simple terms, we offer you peace of mind, making sure you are well informed and tax compliant.
Corporate Fiscal Representation
Under current Portuguese legislation, in most instances it is mandatory for companies (including Offshore Property Companies) who are domiciled abroad without administrative offices in Portugal to have a Fiscal Representative.
Put simply, not every offshore property company will need fiscal representation, but even when it isn’t required, it is often advisable to have a representative in order to protect a highly valuable asset. As your Fiscal agent, we are qualified and prepared to meet compulsory company compliance commitments. Your company circumstances will require a specific service and will be taken on a case-by-case basis which will be billed accordingly.
Our basic Fiscal Representation services include:
– Updating Beneficial Owners with Offshore company obligations and relevant legislation
– Clarifying pertinent procedures and regulations with the Portuguese Tax Department
– Liaising between the Tax Authorities and the Offshore Property Company
– Reporting to Beneficial Owners and Directors regarding company status in Portugal
– Receiving and handling tax correspondence, including payment of local tax bills, on behalf of the company
– Completion and submission of annual income tax reports (if there is income to declare, such as rentals, capital gains, etc);
– Obtaining fiscal numbers (if necessary).